AMD boosts AI chip forecast by $1.5 billion—not enough for Wall Street

Chipmaker AMD on Tuesday boosted its 2024 forecast for its artificial intelligence (AI) processors by $1.5 billion. Investors wanted more.
AMD’s near doubling of its AI processor projections to $3.5 billion was not enough to meet Wall Street’s lofty projections for the company’s AI fortunes, or assuage the pain of a significant drop in its programmable chip and videogame businesses.